By how much did ICICI Bank’s net profit rise in Q3 2024 compared to the previous year?

The Correct answer is 23.6%.

Key Points

• In Q3 2024, ICICI Bank reported a remarkable increase of 23.6% in its net profit compared to the same quarter of the previous year.
• The bank's strong performance was driven by its focus on core operating metrics, including higher net interest income (NII) and stable asset quality.
• Net interest income (NII) is a critical measure of a bank's profitability, calculated as the difference between interest earned on loans and interest paid on deposits.
• ICICI Bank's improved profitability reflects its ability to manage credit growth and maintain a healthy balance sheet.
• The growth indicates the bank's strategic emphasis on technology-driven initiatives and customer-centric banking services.
• ICICI Bank is one of India's leading private sector banks, consistently contributing to economic growth and financial inclusion.
• The bank’s performance in Q3 2024 reflects its resilience amidst evolving market conditions and regulatory frameworks.

 Additional Information

• Net Interest Income (NII)
  • Net Interest Income measures the profitability of a bank's core operations and is a key driver for overall growth.
  • It reflects the ability of the bank to efficiently allocate resources and generate returns from lending activities.
  • NII growth indicates effective management of interest rates and credit distribution.
• Asset Quality
  • Asset quality is a critical metric indicating the health of a bank's loan portfolio.
  • It is measured in terms of non-performing assets (NPAs), where lower NPAs reflect better credit management.
  • Stable asset quality is essential for banks to maintain profitability and investor confidence.
• ICICI Bank’s Role
  • ICICI Bank is a prominent player in India's financial sector, known for its innovation and customer-first approach.
  • It provides a wide range of financial products and services, including retail banking, corporate banking, and investment banking.
  • The bank actively contributes to India's economic development through its lending programs and financial initiatives.